12 C.F.R. § 229.40
Effect of merger transaction
For purposes of this subpart, two or more banks that have engaged in a merger transaction may be considered to be separate banks for a period of one year following the consummation of the merger transaction.
Notes of Decisions
Cited in 2
cases, 2004–2004 · leading case: Bank of Am. NT & SA v. David W. Hubert, P.C., 153 Wash. 2d 102 (Wash. 2004).
Bank of Am. NT & SA v. David W. Hubert, P.C., 153 Wash. 2d 102 (Wash. 2004). “¶23 Finally, Bank of America claims that 12 C.F.R. § 229.40 , which concerns bank mergers, should control situations where one bank has sold accounts to another bank.”
Bank of Am. Nt & Sa v. Hubert, 101 P.3d 409 (Wash. 2004). “12 C.F.R. § 229.40 . As Bank of America notes, the sale of a checking account is similar to a merger in that the bank named on the check may not own a drawer's account.”
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